Raw Steels MMI: Drop in US steel prices could hit roadblocks; European steel prices rise

The Raw Steels Monthly Metals Index (MMI) rose by 4.9% month over month, even as U.S. steel prices continue to fall (at least for now). U.S. steel prices, with the exception of plate, continue their descent in spite of curtailments and capacity delays …

The Raw Steels Monthly Metals Index (MMI) rose by 4.9% month over month, even as U.S. steel prices continue to fall (at least for now). U.S. steel prices, with the exception of plate, continue their descent in spite of curtailments and capacity delays instituted by steelmakers. Hot-rolled coil prices have closed in on the $1,000/st...

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Stainless MMI: Trading halted following nickel price spike

The Stainless Monthly Metals Index (MMI) rose by 7.6% from February to March, as the skyrocketing nickel price prompted LME intervention Tuesday. LME suspends trading due to short squeeze Russia accounts for roughly 7% of global nickel supply. So, the …

The Stainless Monthly Metals Index (MMI) rose by 7.6% from February to March, as the skyrocketing nickel price prompted LME intervention Tuesday. LME suspends trading due to short squeeze Russia accounts for roughly 7% of global nickel supply. So, the possibility for supply disruptions, on the back of mounting sanctions from the West, adds pressure...

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Copper MMI: Copper prices remain stable after Russian invasion but jump in early March

The Copper Monthly Metals Index (MMI) rose 1.7% month over month, as copper prices remained range-bound in the immediate aftermath of Russia’s invasion of Ukraine. However, copper prices have jumped to start March. Copper prices remained significantly unaffected by the conflict between Russia and Ukraine. From a mining perspective, more copper supply is scheduled to…

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The Copper Monthly Metals Index (MMI) rose 1.7% month over month, as copper prices remained range-bound in the immediate aftermath of Russia’s invasion of Ukraine. However, copper prices have jumped to start March. Copper prices remained significantly unaffected by the conflict between Russia and Ukraine. From a mining perspective, more copper supply is scheduled to...

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Aluminum MMI: Aluminum prices spike amid escalation of Russia-Ukraine war

The Aluminum Monthly Metals Index (MMI) climbed by 8.0%, as aluminum prices spiked on the heels of Russia’s invasion of Ukraine. Aluminum prices spiked as tensions escalated between Russia and Ukraine. However, aluminum prices then began a slight decline before the launch of Russia’s full-scale invasion. The invasion became the catalyst for the continuation of…

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The Aluminum Monthly Metals Index (MMI) climbed by 8.0%, as aluminum prices spiked on the heels of Russia’s invasion of Ukraine. Aluminum prices spiked as tensions escalated between Russia and Ukraine. However, aluminum prices then began a slight decline before the launch of Russia’s full-scale invasion. The invasion became the catalyst for the continuation of...

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Construction MMI: Sector remains strong

In The Construction Monthly Metals Index (MMI) increased by 0.6% month over month. US construction spending rose in 2021 U.S. construction spending reached a seasonally adjusted annual rate of $1,639.9 billion in December, the Census Bureau reported. T…

In The Construction Monthly Metals Index (MMI) increased by 0.6% month over month. US construction spending rose in 2021 U.S. construction spending reached a seasonally adjusted annual rate of $1,639.9 billion in December, the Census Bureau reported. The December rate marked a 0.2% increase from the revised rate November. Furthermore, the December figure jumped by...

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Stainless MMI: Nickel surged to 11-year high 

The Stainless Monthly Metals Index (MMI) rose by 7.46% from January to February. Nickel prices surged to an 11-year high last month, due to plummeting LME warehouse inventories. Prices retraced in late January after a minor sell off, but managed to rebound. As prices climb toward recent highs, they may either breakout to new levels….

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The Stainless Monthly Metals Index (MMI) rose by 7.46% from January to February. Nickel prices surged to an 11-year high last month, due to plummeting LME warehouse inventories. Prices retraced in late January after a minor sell off, but managed to rebound. As prices climb toward recent highs, they may either breakout to new levels....

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Raw Steels MMI: Prices slide while capacity grows 

The Raw Steels Monthly Metals Index (MMI) fell by 4.6% month over month. U.S. steel prices continue to fall, led by HRC. Plate prices moved sideways. Nonetheless, they remain beneath their peak. U.S., Japan reach Section 232 tariff agreement The U.S. and Japan reached an agreement regarding steel imports from Section 232 tariffs. Announced Feb….

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The Raw Steels Monthly Metals Index (MMI) fell by 4.6% month over month. U.S. steel prices continue to fall, led by HRC. Plate prices moved sideways. Nonetheless, they remain beneath their peak. U.S., Japan reach Section 232 tariff agreement The U.S. and Japan reached an agreement regarding steel imports from Section 232 tariffs. Announced Feb....

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Copper MMI: The sideways trend continues

The Copper Monthly Metals Index (MMI) held flat at 119 from January to February.  Copper prices continued to trade sideways within tighter and tighter ranges, with no clear short-term price direction. Nonetheless, copper prices remain bullish on longer time frames.  Chilean assembly considers copper nationalization Members of an environmental committee in Chile voted for mine…

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The Copper Monthly Metals Index (MMI) held flat at 119 from January to February.  Copper prices continued to trade sideways within tighter and tighter ranges, with no clear short-term price direction. Nonetheless, copper prices remain bullish on longer time frames.  Chilean assembly considers copper nationalization Members of an environmental committee in Chile voted for mine...

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Aluminum MMI: Tight market could get tighter 

The Aluminum Monthly Metals Index (MMI) rose for the second consecutive month by 8 points to 138.   Aluminum prices rebounded after a recent correction in December. Prices have begun to trade sideways. Market sentiment will soon tell whether prices rally past recent highs or see a minor correction. Ukraine-Russia tensions put market in limbo Market…

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The Aluminum Monthly Metals Index (MMI) rose for the second consecutive month by 8 points to 138.   Aluminum prices rebounded after a recent correction in December. Prices have begun to trade sideways. Market sentiment will soon tell whether prices rally past recent highs or see a minor correction. Ukraine-Russia tensions put market in limbo Market...

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Raw Steels MMI: As steel prices fall, steelmakers look to scrap

The Raw Steels Monthly Metals Index (MMI) rose by 12.7% month over month to 121, as scrap prices made gains this past month. U.S. steel prices continue to retreat from their 2021 peaks. At the start of the year, hot rolled coil prices sat almost 18% be…

The Raw Steels Monthly Metals Index (MMI) rose by 12.7% month over month to 121, as scrap prices made gains this past month. U.S. steel prices continue to retreat from their 2021 peaks. At the start of the year, hot rolled coil prices sat almost 18% below the October high. US steelmakers invest in scrap...

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